Stocks On The Move - July 6

Stocks Rise on Heavy Volumn

• ADVO Inc. (AD): the only reason that could make a 20 dollar stock to surge 45.88% to $35.39 is merger. And this is what happened to the Windsor, Connecticut based ADVO, a direct mail media company as on Thursday marketing company Valassis agreed to buy the direct mail company for $1.2 billion or $37 per share. The stock became the biggest winner on NYSE today on 32 times average volumn of 18.6 million shares traded. The stock is so close to merger price that it's not worth to get into the stock.

Stock Drop on Heavy Volumn

• Openwave System (OPWV): Thursday was the doomsday for the Redwood City, CA based cell phone browser maker as it plunged 32.26% to new 52 weeks low of $7.77 per share after the company issued fourth quarter warning and received subpoenas from U.S. attorneys for tis stock option grants. The stock was the biggest loser and the second heaviest traded on Nasdaq with 54 million shares exchanged hands.
• Par Pharmaceutical Companies Inc. (PRX): the Woodcliff Lack, NJ based drug maker continued to go downhill as it tumbled 26.19% to new 52 weeks low of $13.47 per share after the company announced that it would have to restate nine quarters of results. The stock was the leading decliner on NYSE today with 12 times average volumn 9 million shares traded.